Original author: 1912212.eth, Foresight News
Recently, the market momentum of the Web 3 game sector has begun to heat up, and the token prices of StepN and TreasureDAO, which have been silent before, are quite strong. The price of Sipher Odyssey token SIPHER, which only received financing at the end of the last bull market, soared 6 times in just one month, which is very impressive.
In October this year, Alex Svanevik, founder of blockchain data analysis platform Nansen, talked about Web3 games and believed that in the next 6 months, games after more than 2 years of development will be released. While most of the games here will fail, a few may be wildly successful, and SIPHER Odyssey is one of them.
Its time to get to know this Web3 shooter.
1. How to play the game
Sipher Odyssey is a Web3 shooting role-playing game with a relatively simple story setting. In a fantasy universe filled with alien worlds, vivid characters, and dangerous mysteries, embark on the legend of a virtual universe created by a god-like artificial intelligence, where humanitys future is reborn and must fight to explore and protect their new home.
Players can choose to use different weapons in various game modes to win by shooting enemies or completing target tasks. The game map design is unique, including various environments and scenes, such as Krol Island, Himalayas, doomsday construction, abandoned city, desert treasure island, etc. Each map has multiple hidden gunfighting spots, different cover, and other things to help players perform at their best.
Gameplay includes PvP, PvE, open world metaverse, and more. Players need to control heroes to move flexibly, avoid traps and enemy attacks, and defeat enemies.
In the PvE dungeon mode, players collect characters and use them to go on adventures, fight hostile creatures and robots, and clear the dungeon within the specified time. Players can improve by making and upgrading equipment, unlocking new heroes, completing faction tasks, etc. Strength, continue to advance the plot and explore the Siphers universe.
In the PvP mode, players will form a team of 3 and control characters to fight with other players. The gameplay is similar to Heroes Brawl. Kill enemies and survive within the specified time. Players can learn new skills and unlock new characters and weapons. , occupations, etc., obtain tokens and other rewards by winning battles and completing weekly/monthly/quarterly tournaments. Players can also join gangs and guilds, and recruit powerful members to fight for you.
The open world metaverse includes social networking, equipment forging, NFT cloning, etc. Players can obtain economic benefits by trading these on-chain assets in the game trading market. At the same time, the project team also encourages players to build their own communities and form their own communities in this open world, and plans to allow players to obtain token rewards through player game live broadcasts, fan rewards, etc. in the future.
Siphers role NFT
NFTs come in different rarities, including normal, infected, cybernetic, and cosmic. It is worth mentioning that holding NFT can also unlock Sipher comic content.
Sipherian Surge (Sipher Inu race)
The character NFT uses Shiba Inu as the design image, with a total of 10,000 pieces and a starting price of 0.1 eth. All were sold out in less than 15 minutes after it went on sale. The floor price has now rebounded to 0.08 ETH, with a monthly increase of 96%. The total historical trading volume is 6512 ETH, and the trading volume in the past month was 12.08 ETH, with a monthly increase of 184%.
Sipherian Surge (Sipher Neko race)
The character uses a cat as its design image, and the NFT floor price is now 0.0448 E, with a monthly decrease of 0.44%. The total historical trading volume exceeds 1500 E, and the trading volume in the past month was 5.17 E, with a monthly increase of 76%.
2. Investment background and economic model
Sipher Odysseys two investments both occurred at the end of the last bull market cycle. On October 26, 2021, Sipher completed US$6.8 million in financing. This round of financing was led by Arrington Capital, Hashed and Konvoy Ventures. Defiance Capital, Signum Capital, Dragonfly Capital, CMT Digital, BitKraft Ventures, Delphi Digital, Alameda Research, Fenbushi Capital, Sfermion, Hyperchain, GBV, Kyber Network, Coin 98 Ventures, YGG, and Merit Circle also participated. Angel investors include Kabam founder Holly Liu, Nansen CEO Alex Svanevik, etc.
Just one month later, Sipher announced the public offering of tokens with a total supply of 1 billion. Adopting a dual-token model, the governance token $SIPHER and the in-game token $ATHER, the economic model forms a cycle through fighting → obtaining resources → upgrading → trading → fighting, and using the game trading market for transactions will also reduce gas costs.
At the same time, the official also announced that it had received a total of US$44 million in financing (9950.1314 ETH), with 13,159 investors participating. The unit price of the $SIPHER token was 0.00024 ETH. However, based on the Ethereum price of approximately US$4,100 at the time, the cost of a single token is US$0.984. Therefore, although the currency price has increased more than six times in the past month, as of the time of writing, the currency price has still fallen by approximately 70% compared to the public offering price.
The distribution of tokens is:
30.4% is allocated to game incentives and marketing, locked for one month, and then unlocked based on time and demand;
25% is allocated to the team and its advisors, locked for 16 months, and then unlocked linearly within 24 months;
14% is allocated to the foundation and reserve, locked for 30 months, and then unlocked linearly within 24 months;
11.3% is used for seed round fundraising, locked for 16 months, and then unlocked linearly within 18 months;
10% is used for listing and liquidity rewards, 15% is unlocked by TGE, and the remaining part is unlocked linearly in 11 months;
5% is used for strategic round fundraising, locked for 16 months, and then unlocked linearly within 18 months;
4% is used for the public offering round, TGE 100%;
0.3% is used for promotion and cooperation, locked for 3 months, and then unlocked linearly within 12 months;
SIPHER tokens can be used for staking, cloning new characters, making new rare equipment, enjoying a share of market platform fees, and have the right to vote on future decisions of the game development team. At the same time, ATHER is a reward token that can be used to upgrade characters, skills, equipment and other in-game items through the burning mechanism, and can also be used to pay for cloning costs.
There is a dedicated staking page at the Sipher official website entrance to facilitate easy staking. The longer the locking time, the higher the corresponding shares and rewards. As of press time, the total value of pledged tokens has exceeded US$2.7 million.
3. Team members
The founder, Tin Nguyen, is a famous entrepreneur in Vietnam. He is one of the few serial entrepreneurs. He was once ranked among the top 30 in Forbes Vietnam. He graduated from the University of Melbourne. In 2015, he founded Dreamplex, a company specializing in providing collaborative work spaces and social venues. In May 2021, Sipher Odyssey was founded across industries. As of now, his personal X account has 12,000 followers, and Siphers X account has over 100,000 followers.
Currently, the entire team has more than 160 members. The local Vietnamese team is mainly located in the three cities of Ho Chi Minh City, Da Nang and Hanoi, while the international members are located in the United States, Europe, Singapore, the Philippines, Puerto Rico and Indonesia.
Not long ago, SIPHER announced that it would jointly build a virtual video mall with Metacade. At a time when Web3 games are recovering as a whole, the future development is worth waiting for.
